Caesarea, Israel-based Mazor said the Israeli Securities Authority searched its offices and questioned some members of management in May, “in connection with an investigation held by the ISA.”
“Mazor has not been informed as to the subject matter of the investigation, nor has it been charged with any wrongdoing. Mazor is cooperating fully with the ISA,” the company said in a regulatory filing.
MZOR shares, which rose 1.6% on their $33.67 closing price yesterday to $34.20 in pre-market trading this morning,
MZOR shares opened down -1.2% at $33.28 apiece today on the news.
Barclays analyst Matthew Taylor said the company, which was not obliged to make the news public, issued the filing in the interest of transparency and doesn’t expect the investigation to have a material impact on day-to-day operations.
“We are not aware of other relevant examples of ISA investigations, and, given the unknowns, do not think it is possible at this point to assess the potential impact of this investigation,” Taylor wrote this morning in a note to investors.